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Wednesday, October 04, 2017

Small business can compete with Amazon

Small businesses and startups can survive the so-called Amazon effect by being creative and innovative, said U.S. Small Business Administrator Linda McMahon.

McMahon was in Denver Sept. 28 for the sixth annual Denver Startup Week, a week of free panel discussions, workshops and networking events for entrepreneurs in all stages.

Metro Denver has recently attracted the eye of Amazon.com The e-commerce giant opened a 1 million-square-foot fulfillment center in suburb Aurora this month and has broken ground on a 2.4 million-square-foot fulfillment center in nearby Thornton, expected to open in August 2018.

Now, the Seattle-based company is on the hunt for a city in which to build its second headquarters, expected to be a $5 billion project and employ as many as 50,000 people. Colorado and metro Denver leaders plan to bid on the facility.

But it’s in no way doomsday for small businesses, McMahon said. “There is no way for a small business to compete against an Amazon that has not only product development but its online services and distribution,” she said.

“But what small businesses have to do is focus on what they are doing -- what is their niche, where do they fit in, how can they be their own entity in a world that is changing?”

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The Research Network aims the content of this blog primarily at the New York Small Business Development Center (NY SBDC) community on the kinds of things we encounter every day. Views expressed are those of the Research Network staff, and not necessarily those of the New York SBDC or its partners. Comments to an individual post are encouraged. Such comments will be monitored, so please, keep them clean and professional.

Definition of a small business by the US federal government

Definition of a small business in the state of New York

Consolidated Law for the State of New YorkEconomic Development Law § 131§ 131. Definition of a small business. For the purposes of this chapter, a small business shall be deemed to be one which is resident in this state, independently owned and operated, not dominant in its field and employs one hundred or less persons.

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The NYS SBDC, administered by the State University of New York, is funded in part through a cooperative agreement with the U.S. Small Business Administration. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA.